Evening star. [volume] (Washington, D.C.) 1854-1972, 1887-06-17
THE BURsTED WHEAT CLIQUE

The Affairs Of kershaW Il Co. I'm a
Hopeless Tangle, but the Panic Over.
CHICAGO, June II, IL a. m.-There were no new
sensational developments In the affairs OF the
bursted wheat clique to-day, and none are ex.
pected. Kershaw has got no more funds and win not
so entangled between the Fidelity Bank OF Cincin.
natl and the American Exchange National Bank
piications that whatever funds should come
here would undoubtedly be swallowed up
without doing anybody In the trade much good.
The affairs OF c. j. Kershaw Co. are so desperate
that Charley EgglestOn. the special partner whose
liability general partner Is claimed is putting
his property out OF his hands. Attachments and
him to-day.
The cash wheat will not come on the market, SC
that the panic Is over The wheat market opened
steady at 73k for July, a considerable advance
over the lowest prices on the panic. The feeling
was naturally enough excited, and after f1uctu-
alton Of kaH was not considered worthy Of an ex-
PLANTATION.
WHY THE ATTEMPTED CORNER FAILED.
A member OF one OF the clique firms, in q con-
versattOn with reporter, cleared up some OF the
secrets of the attempted wheat corner. The
clique had about 100000 Of its own money
| tere with which to margin the cash wheat and
options. There never was moment, up to last
Monday, when there was any hitch in monetary
matters. The trouble arose, probably, from the
enormous arrivals OF cash wheat. 1t had not been
anticipated that the cash wheat receipts In June
would average over 300 cars per day or aggregate
more than 5000 for the month. There were 5000
cars received in the first ten days. and 1t was plain
that
ONE IMPORTANT CALCULATION had MIscARRIED.
The cash wheat absorbed the cl1ques money
about twice as fast as was expected. That there
Was some uneaStneSS, however, among the clique
brokers week ago. was evidenced by the many
trips to Cincinnati. Green was there last Thurs
day, Friday and Saturday; Dewar, KerShaW'S
partner was there last Friday, and Johnson OF
RoSenfeld Co., was there last Saturday and SUM-
day.
On last Monday, June 13, tt none OF the clique
orders were bucket-shopped, they had, besides
It, 900 bushels OF cash wheat, p 900 bushels OF
unsettled June options.
WILTSHIRE GETS NERVOUS.
Joe Wiltshire got here Saturday, and an inter.
view at the hotel that night was held between
Kershaw, Green, Of Irwin, Green Co., johnson
OF ROsenreld & Co., Wiltshire and Hoyt. 1t is de.
MED that there were any sensational develop
mentS at that meeting, but Wiltshire Is described
as little nervous. He left at 80 for Cincinnati
promising that funds would be wired In the morn.
Ing. Wiltshire now claims that there was no such
pressure as Rosenfeld & Co. claim on Tuesday
morning on clique business, but that 1t came from
holdings by Resented Co. OF taller wheat. The
clique money came from Cleveland, Philadelphia
Cincinnati, and New York. The s4O0, 900 brought
here Wednesday consisted OF four 100000
drafts OF Fidelity Bank, OF Philadelphia, and a
letter OF credit for 100000 from the Fidelity Of
Cincinnati. The only money ever taken out Of the
Senfeld Co. to Wiltshire June 3, and before Ker.
shaw had sold that block OF 1900, 600 bushels OF
June wheat. Joe Wiltshire, the clique representa-
His LETT eye is ike Ben Buffers. For i've
months Wiltshire was in Libby Prison,
and was once drawn to be shot. In quietly talk
ing over his troubles with his partner Wednesday,
he said that his AZ hours experience at Chicago
he found was incomparably worse than anything
he suffered In Libby prison.